Home improvement is a way to transform your living space, often without the expense of a major renovation. Many homeowners choose to make upgrades that will not only make their house more attractive and functional, but will also add value in the future if they decide to sell. However, not all improvements are equal and some projects may even reduce a property’s value.
A key factor when deciding to complete a project is assessing its potential return on investment, or ROI. Some home improvement ideas will produce a higher ROI than others, but the best ROI typically comes from projects that appeal to the broadest audience. These might include updating dated fixtures or installing energy-efficient lighting.
Adding storage is another home improvement idea that will increase both style and function. If you have unused room in your home, consider adding shelving or a built-in cabinet to organize items like books, dishes and tools. This is especially helpful in a kitchen, where ample storage can make cooking and cleaning more efficient.
Another great home improvement idea is upgrading or installing new appliances and kitchen fixtures. This can improve a home’s overall look and feel, as well as save on energy costs. Replacing old or outdated fixtures can give a room a fresher and more updated look without breaking the bank. For example, replacing frosted glass pendants with modern, sleek glass globe fixtures will have a much more dramatic impact than simply changing the bulbs.
While it’s tempting to start any project as soon as you buy a home, it’s important to assess what is and isn’t within your budget. The safest financial option is to work on saving money for the renovation, or, if necessary, research financing options that will allow you to complete your project while still keeping your monthly budget intact.
It is also important to remember that the highest quality upgrades can actually lower a home’s resale value, especially when they exceed what other comparable homes are selling for in the neighborhood. For example, installing a marble bathroom can cost up to $3 per square foot, but only adds about a 1 percent premium when you sell the house.
A home inspection can reveal issues that will require a significant amount of money to fix, and neglecting these repairs can negatively affect the value of your home in the long run. This is why staying on top of maintenance tasks and making regular upgrades is essential.
Whether you’re looking to remodel your entire home or just update a few features, the Gale OneFile collection of home improvement articles has the information you need to get started. Featuring more than 200 home improvement-focused titles, this collection offers the latest in DIY trends and techniques as well as how-to tips, safety guidelines, tool reviews and more. Plus, the OneFile Home Improvement Collection is part of a larger collection of scholarly articles, peer-reviewed journals and government documents on a variety of topics.